Can you buy Anthropic stock before the IPO, and what is the Anthropic pre-IPO price?

01Can you buy Anthropic shares before the IPO?

Not as an ordinary retail buyer. Anthropic has not listed on a stock exchange, so there is no share you can add to a brokerage app, no order book for the stock and no official share price to look up. When people search for the "Anthropic pre-IPO price", what actually exists is the price of a contract that follows what the market thinks the company is worth.

That contract is a perpetual future. You put down a deposit, you pick a direction, and your result is the price difference in money when you close. Binance states plainly that its pre-IPO perpetuals do not represent ownership of the underlying share and are not affiliated with or endorsed by the company — so no shareholder rights, no dividends, nothing delivered to you. If you want the general mechanics of how a pre-IPO contract is priced before a company lists, that is covered in pre-IPO perpetuals explained; this page is about the Anthropic pair specifically.

02Where the Anthropic contract trades, and which pair to pick

The Anthropic perpetual lives inside the Binance Wallet app, in the Perpetuals tab. It is not a separate website or a separate account: your wallet, your balance, your order window. Execution and the order book come from Binance's partner, the Aster protocol — the screen says "Provided by Aster", and trade questions go to Aster support.

The pair confirmed in the app today is ANTHROPICUSDT, with a 10x badge next to its name showing its maximum leverage. Some companies in this list also have a second pair settled in USD1, another dollar-pegged coin used on some pairs — the live table below shows every Anthropic pair that is actually trading today. If a USD1 pair appears there, your margin for it has to be in USD1 rather than USDT, so you would swap inside the wallet first. Either way the contract trades 24/7 including weekends, which is unusual for anything connected to the stock market and worth understanding before you hold through one (why these contracts run at night and on weekends).

In that table, look at two columns. The 24-hour volume tells you where the orders actually are today; if more than one Anthropic pair is listed, they are rarely equally busy, and the busier one is where your order fills more easily. The price column is the contract's own price, agreed between buyers and sellers; do not read it as a share price and do not multiply it out into a company valuation.

The other big AI name in the same Pre-launch list, the OpenAI contract, works the same way, and the full set of pairs is in the live Binance Wallet market table.

03What it costs to hold the position, in money

Two costs matter here. The first is the fee you pay when you open and when you close. In the Perpetuals tab the fees come from Aster's schedule: 0% for a maker order that waits in the book, and a taker fee of 0.04% on crypto pairs or 0.0125% on stock and commodity pairs. Which of those applies to a pre-IPO pair is shown in the order window before you confirm — read that line. On a 500 USDT position, 0.04% is 0.20 USDT per side, so about 0.40 USDT in and out.

The second is funding: a small payment between longs and shorts that the exchange does not keep (how funding works). It is paid several times a day — the pair's own screen shows the interval and the next payment time, so look there before you hold overnight. The table below shows what a month of holding a 1,000 USDT position would have cost at recent rates, so read that month figure and halve it for a 500 USDT trade. The rate changes often and can flip sign, so check the live figures rather than assuming.

Now put it together. A 500 USDT position at 5x leverage needs 100 USDT of margin. The fee is about 0.20 USDT each way on a 500 USDT position; what funding adds depends on the rate that week, and the table above shows the latest figures. A 2% move in your direction is 10 USDT of profit; a 2% move against you is 10 USDT of loss, whatever leverage you chose. A 10% move against you takes half your margin, and somewhere around a 20% adverse move the 100 USDT is gone — that is a rough guide, not an exact liquidation price. If 10x looks tempting because the maximum allows it, read what leverage a beginner should use first.

04Opening a small first position, step by step

1. Open the Perpetuals tab in Binance Wallet

   In the app, go to the perps list and either look under the Pre-launch group or type ANTHROPIC into the search. The pair appears with its leverage badge. If you have not created the wallet yet, the setup and the tour of the trade screen are in how to trade in Binance Wallet.

2. Pick the pair with the orders in it

   If the live table above shows more than one Anthropic pair, pick the one with the bigger 24-hour volume on the day you trade. Whichever you choose, your margin has to be in that pair's currency — USDT for ANTHROPICUSDT, USD1 for a USD1 pair.

3. Choose the money amount, then the leverage

   Decide the position size first: 500 USDT of contract at 5x asks for 100 USDT of margin. You can start much smaller — the order window shows the minimum size for that pair before you confirm, so check it there. Keep the two numbers separate in your head so you never multiply by leverage twice.

4. Attach a stop-loss and a take-profit

   In the order window, set the level where you accept you were wrong and the level where you are happy to take the money. Pick the stop level first, then size the trade so that hitting it costs only a small slice of your whole balance. If your whole balance is 200 USDT, losing 1–2% of it means risking 2–4 USDT on this trade. On a 500 USDT position, price only has to move about 0.5% against you to lose that, so a wider stop means a smaller position.

5. Confirm and check the position line

   After it fills, your position shows the entry price, the liquidation price and the running result. Funding payments appear in your history at the interval shown on the pair's screen — look at them once a day for the first few days so the cost stops being a mystery.

If you'd rather see the live price and the leverage badge for yourself before putting money anywhere, you can open Binance Wallet and look at the pair without opening a trade. The order window shows the fee, the minimum size and the funding interval for the exact contract, which is the most reliable version of every number on this page.

05What happens to the contract if Anthropic actually lists?

This is the part that makes people nervous — the feeling that the contract will quietly vanish on listing day and take the money with it. There is one worked example of how it went. Binance launched its first pre-IPO perpetual on SpaceX in May 2026, and after the company's Nasdaq listing in June the contract simply kept trading, now following the live share price instead of expectations. That was a Binance Futures contract, so check the Anthropic pair's own information page in the app for the rules that apply to it.

Binance also describes one adjustment it made along the way. When SpaceX turned out to have more shares than expected, Binance says it adjusted the contract so that people holding it did not lose out because of the change. That is Binance's own account of what it did, and it tells you something useful: these contracts can be changed by the venue while you hold them.

Binance's published approach for pre-IPO contracts is that before a listing the price reflects public pricing signals, such as an announced price range and the final offering price, and that after the shares start trading the contract follows the live market. If an IPO is postponed or cancelled, it says it will give advance notice of any delisting and settle contracts under a transparent process. The Anthropic pair in the wallet is matched through Aster, so read the pair's information page before you hold through any big date.

The honest risks are stated in the same announcements: there is no guarantee an IPO goes ahead, volatility can be especially high after a listing, the price can stay below the final offering price, margin calls can come at short notice and the whole margin balance can be lost. None of that is unique to Anthropic — it is what you are accepting when you trade a contract on a company that has not listed yet.

One more practical thing: Aster's terms exclude residents of, and people located in, Russia, Ukraine, the USA, Canada, the United Kingdom, China, North Korea, Cuba, Iran, Venezuela and Syria, so check in the app that the Perpetuals tab is available where you live before you plan anything.